CapitaLand Investment raises RMB1 bil from first sustainability-linked panda bond

The bond has made it possible for the team to access lower-cost RMB resources and more broaden its domestic funding networks and buyer base.

Issued covered by CLI’s RMB2 billion debt issuance program, the panda bond is linked to CLI’s aim at of reducing its electricity consumption intensity by at the very least 6% for its Chinese residences.

The panda bond, that is the 1st to be provided by a Singapore business, has a three-year course and a fixed coupon rate of 3.5% per year.

“The panda bond additionally integrates our funding initiatives with CLI’s sustainability efficiency, displaying our highlight liable growth. This most recent campaign to tap the big domestic financing market in China enables minimize foreign exchange changes and becomes part of our ongoing sensible funding management,” he adds.

Hillock Green Singapore

Net earnings from the issuance will be utilized to refinance CLI’s existing borrowings.

“The outstanding first appearance of our very first panda bond demonstrates the trust that institutional clients have in CLI’s established record and long-lasting development leads in China. It makes it possible for CLI to expand our capital sources and escalate our monetary ability,” claims Puah Tze Shyang, CEO of CLI (China).

CapitaLand Investment (CLI) has recently increased RMB1 billion ($187.1 million) from its inaugural sustainability-linked panda bond from institutional investors. The subscription price was 1.65 times.

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